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作者：Barrios, John M.
作者单位：Washington University (WUSTL); National Bureau of Economic Research; Washington University (WUSTL)
摘要：I examine the effects of occupational licensing on the quality of certified public accountants (CPAs). I exploit the staggered adoption of the 150-hour rule, which increases the educational requirements for a CPA license. The analysis shows that the rule decreases the number of entrants into the profession, reducing both low- and high-quality candidates. Labor market proxies for quality find no difference between 150-hour rule CPAs and the rest. Moreover, rule CPAs exit public accounting at si...
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作者：Bordeman, Adam; Demerjian, Peter
作者单位：California State University System; California Polytechnic State University San Luis Obispo; University System of Georgia; Georgia State University
摘要：In this study, we replicate and extend the Dichev and Skinner [DS: 2002] study on the debt covenant hypothesis (DCH). We start by replicating DS and find results consistent with theirs. We then extend their work by changing three aspects of the research design: histogram bin width, calculation of slack, and statistical test of discontinuity. We find that the inference from DS is generally robust to varying these choices, although sensitive to different bin widths, during their sample period. W...
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作者：Amiram, Dan; Jorgensen, Bjorn N.; Rabetti, Daniel
作者单位：Tel Aviv University; Copenhagen Business School; Hanken School of Economics
摘要：This study examines whether we can learn from the behavior of blockchain-based transfers to predict the financing of terrorist attacks. We exploit blockchain transaction transparency to map millions of transfers for hundreds of large on-chain service providers. The mapped data set permits us to empirically conduct several analyses. First, we analyze abnormal transfer volume in the vicinity of large-scale highly visible terrorist attacks. We document evidence consistent with heightened activity...
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作者：Carson, Elizabeth; Simnett, Roger; Thurheimer, Ulrike; Vanstraelen, Ann
作者单位：University of New South Wales Sydney; Deakin University; Maastricht University; University of Antwerp
摘要：We study what determines the involvement of component auditors in multinational enterprise (MNE) group audits and the association with audit quality and audit fees. Using unique Australian disclosures of group audit fees paid to the principal and component auditors, we first document that MNE complexity, MNE internationalization, and auditor characteristics are associated with component auditor involvement, and extent and type of component auditor involvement. Next, we find that involvement of...
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作者：Donohoe, M. P.; Jang, H.; Lisowsky, P.
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; National University of Singapore; Boston University
摘要：We examine how tax cuts that benefit some firms are related to the economic performance of their direct competitors. Consistent with tax cuts decreasing the cost of initiating competitive strategies, we find that a decrease in the tax burden for only a specific group of firms in the U.S. economy (i.e., rivals) has a negative economic effect on the performance of its direct competitors not directly exposed to the same tax cut (i.e., competitors). This negative externality is stronger when the r...
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作者：GAYLE, GEORGE-LEV, I; LI, C. H. E. N.; MILLER, R. O. B. E. R. T. A.
作者单位：Washington University (WUSTL); Federal Reserve System - USA; Federal Reserve Bank - St. Louis; New York University; NYU Shanghai; Carnegie Mellon University
摘要：This paper investigates the effects of regulatory interventions on contracting relationships within firms by examining the impacts of the Sarbanes-Oxley (SOX) Act on CEO compensation. Using panel data of the S&P 1500 firms, it quantifies welfare gains from a principal-agent model with hidden information and hidden actions. It finds that SOX: (1) reduced the conflict of interest between shareholders and their CEOs, mainly by reducing shareholder loss from CEOs deviating from their goal of expec...
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作者：Commerford, Benjamin P.; Dennis, Sean A.; Joe, Jennifer R.; Ulla, Jenny W.
作者单位：University of Kentucky; State University System of Florida; University of Central Florida; University of Delaware; Nevada System of Higher Education (NSHE); University of Nevada Las Vegas
摘要：Audit firms are investing billions of dollars to develop artificial intelligence (AI) systems that will help auditors execute challenging tasks (e.g., evaluating complex estimates). Although firms assume AI will enhance audit quality, a growing body of research documents that individuals often exhibit algorithm aversion-the tendency to discount computer-based advice more heavily than human advice, although the advice is identical otherwise. Therefore, we conduct an experiment to examine how al...
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作者：Bao, Yang; Ke, Bin; Li, Bin; Yu, Y. Julia; Zhang, Jie
作者单位：Shanghai Jiao Tong University; National University of Singapore; Wuhan University; University of Virginia; Nanyang Technological University
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作者：Davila, Antonio; Guasch, Marti
作者单位：University of Lausanne; Universitat Ramon Llull; Escuela Superior de Administracion y Direccion de Empresas (ESADE)
摘要：We examine the relation between a measure of managers' physical display-body expansiveness-and favorable reporting practices (in firm forecasts and valuation information) and performance (survival and funding success). We videotape 154 entrepreneurs pitching their business ideas, and use computer vision software to obtain information about speakers' movements. We show that physical expansiveness correlates with higher forecast errors and proposed firm valuations and lower survival rates yet hi...
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作者：Berger, Philip G.; Lee, Heemin
作者单位：University of Chicago; City University of New York (CUNY) System; Baruch College (CUNY)
摘要：We examine the deterrence effect of the Dodd-Frank whistleblower provision on accounting fraud. To facilitate causal inference, we use state False Claims Acts (FCAs), under which whistleblowing about accounting fraud at a firm invested in by a state's pension fund can result in monetary rewards from that state's government. We divide our sample into firms exposed and not exposed to whistleblowing risk from a state FCA during the 2008-2010 period that preceded the 2011 SEC implementation of the...
